Third hike since Jan: Diesel dearer by 45 paisa/litre from today

New Delhi: Diesel price was on Friday hiked by 45 paisa per litre, the third increase in the rate of the nation's most consumed fuel since January.

Diesel price will be hiked by 45 paisa, excluding VAT, from midnight, Indian Oil Corp (IOC), the nation's largest oil firm, announced.

An employee fills a taxi with diesel at a fuel station in Kolkata. Reuters

In Delhi, diesel price will go up by 51 paisa per litre after including local sales tax or VAT, to Rs 48.67 per litre from Saturday as against current rate of Rs 48.16.

The government had in January authorised state-owned oil firms to hike diesel prices by small doses of up to 50 paisa per litre every month till such time that their losses on the fuel sale are completely wiped out.

Oil firms, which hiked diesel prices by equal measure of 45 paisa on January 18 and then on February 16, were to hike rate on March 16 along with a Rs 2.40 per litre cut in petrol price. But the companies deferred a decision on diesel to avoid the government blushes in Parliament.